BUSINESS ADMINISTRATION
RETAIL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It is one of the characteristics of Retail businesses:
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They are big companies.
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They are small companies.
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They are companies where several companies are grouped.
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Buy in volume, sell in detail.
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They are companies that ONLY sell retail.
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Explanation:
Detailed explanation-1: -Functional. Price, convenience and store experience are functional characteristics that make up a strong retail brand. These functional characteristics are common to almost all retail stores. A brand may use its store experience to create an emotional bond by matching its brand’s characteristics with consumers’ values.
Detailed explanation-2: -(i) The retailer’s interface with the customer is service-based. (ii) Retailers sell small quantities of items on a frequent basis. (iii) Retailers provide convenience in terms of location, credit facilities, range of merchandise, after – sales service, etc.
There is 1 question to complete.